Thanks for the advice gentlemen. I've discovered that the 4-pin connection to the motherboard is fried, yellow tarnishing and all. Oddly enough it didn't emit smoke or a smell, it just melted. Even more surprising is that it was my 1000w Antec true power PSU that cause all this. Now I have to warranty my PSU and get a new mobo (unless antec covers damage caused by their products)
(10 minutes later...)
Woah horrible design. Apparently the "4-pin" motherboard connection has a black cap over the other 4 pins for an optional 8-pin configuration not mentioned in the manual. Given the motherboard itself is the same shade of black I had no clue that was there. Perhaps to much voltage through to little of a surface area.I now blame ASUS! (or my lack of investigative skills >.>" )